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. >>> inflation tops the list for china's central bank chief. he's put off retirement to help oversee the economy. hello i'm yuko fukushima and this is "asia biz forecast." for many this past week the central focus was the central bank. the bank of japan welcomed a new chief and opened the door to a new era of monetary policy. haruhiko kuroda was sworn in wednesday as the new boj governor. he took over a day after masaaki shirakawa stepped down, kuroda bringing an end to more than a decade of inflation. prime minister shin bow abe it requires closer coordination between the government and the central bank as well as a boj chief willing to undertake bold monetary easing. by all accounts, kuroda is his man. >> translator: the japanese economy has been struggling with deflation for nearly 15 years. the greatest mission of the central bank is to end deflation and achieve the inflation target of 2% as soon as possible. >> cue row do da has said he believes the boj can achieve the target within two years and says he'll use every tool at his disposal to make that happen. >> translator: the bank of japan
and around the world. i'm fareed zakaria. a great show for you today. first up, the question for the economy. should we save or should we spend? what will get the economy moving faster? i'll talk to the chief proponent of spending. nobel prize winning economist paul krugman. then, the race for space. is america losing? china is building its own space station and the u.s. has to rely on russia to send our astronauts up to the stars. what is going on? >>> and the exploding middle class. in more than seven years it will triple in size to almost 2 billion people. it will change the world. we'll talk about how. >>> but, first, here's my take. those of you who follow the show reg lerly know i have long argued that cutting government spending in the midst of a weak recovery is not a path towards growth. but i have also argued that america does have a debt and deficit problem and we need to take it very seriously. the fact is, the vast majority of our debt problems relate to the costs of health care in america. now that the debate over obama care is over, we should start thinking about how to get am
mostly on the british economy. specifically on budget reform, childcare benefit, and performs to the national health service this is just over 30 minutes. >> order. questions to the prime minister. >> number one, mr. speaker. businessorning, i had with ministerial colleagues and others and i shall have further such meetings later today. time minister the believes there is an alternative to his double debt and his loss of a aaa credit rating. is he aware that some in his cabinet believe there is an alternative for him? >> what this government is delivering is a million private sector jobs, the fastest rate of job creation in this country's history and banged on the debt by 25%. we have cut immigration by a third. we have a long road to travel, but we are going in the right direction. i'm sure that the prime minister will wish to add his condolences to the family and friends of christina at ken's who was murdered on a path to school in my constituency last thursday morning. the government is right to introduce minimum custodial substances for people convicted of threatening some
, the question for the american economy. should we save or spend? what will get the economy moving faster. i will talk to the chief pro-economist of spending paul krugman and then the race for space, is america losing? china is building it own space station and the u.s. has to reeli on russia to send our astronauts to the stars. what's going on? and the exploding issue, middle class. in seven years it will more than triple in size to almost 2 billion people. it will change the world. we'll talk about how. but first here's my take. those of you who followed the show regularly know that i have long argued that cutting government spending if the midst of a weak recovery is not a path toward growth. i have also argued that america has a debt and deficit problem and we need to take it very seriously. the fact is that the vast majority of our problem is related to the cost of health care in america. now the debate over obama care is over, we should start to think seriously of how to get america's health care costs under control. as it turns out a book and magazine story provide ways to think of th
we all want to go. wwe want to have a growing economy, weal we want to deal with our deficit. these are challenging, complex goals. we can get there. even the action of this body last night in passing the fyn.2013 appropriations bill shows we can cooperate together and with the thousands get there. it is my hope that that will inspire us going forward. the question is this: we all agree that what has been done thus far in the area of deficit reduction equates to about $2.4 trillion of deficit reduction that has been done by the last congress, including the deal on the bush tax cuts that were made at year end. $2.4 trillion of deficit reduction over the next ten years. and all also agree that $is.8is- that $1.8 trillion was gutting expenses and a little more than $600 billion of this was revenues achieved through the year-end bush tax cut deal. so everwhelmingly what has been done thus far has been in spending cuts rather than new revenues. it is very important for us to know that. it is very important for folks to realize that democrats are willing to make are hard calls abo
by foreign media organizations. i think there are two main concerns. first, whether the chinese economy will continue to grow sustainably. and secondly, whether a stronger china will become more assertive, and even -- [inaudible] [speaking chinese] [speaking chinese] >> translator: i think these two concerns are really necessary. china is capable of achieving sustainable and a healthy economic development, in pursuing social progress. and that are more than 1.3 billion people in this country so we are on a long journey towards modernization. for that we would require an international environment of lasting peace. even if china becomes stronger, we will not seek edge me. because we have learned from our own experience in the modern period that one should not impose on others what he himself does not desire. this is an article of faith for us. [speaking chinese] [speaking chinese] [speaking chinese] >> translator: let me underscore here that china has an unwavering commitment to peaceful development. we also have an unshakable determination to safeguard our country's sovereignty and terri
economy, child-care benefits, and reforms to the national health service. this is just over 30 minutes. >> order. questions to the prime minister. eagues and others and in addition to my duties in this house i shall have server, furt >> the prime minister. >> this morning, i had meetings with ministerial colleagues and others, and, in addition to my duties in this house, i shall have further such meetings later today. >> we all know that the prime minister believes there is no alternative to his double-dip, his double-debt, or his loss of the triple-a credit rating, but is he aware that his back benchers and some of his cabinet believe there is an alternative to him? hear, hear. >> what this government are delivering are 1 million private-sector jobs and the fastest rate of new business noires history. we have paid down the deficit by 25% and have cut immigration by a third. we have a long, hard road to travel, but we are going in the right direction. >> hear, hear. >> mr. james morris. >> i am sure that the prime minister will wish to add his condolences to the family and friends of c
tax will be cut to 20%, the lowest tax rate than any other economy in the world. in his one-hour speech, chancellor osborne announced measures aimed at assisting small business owners, first- time homebuyers, and british veterans. this is about an hour and 15 minutes. mr. deputy speaker, this is a budget for people who aspire to work hard and get on. it's a budget for people who realise there are no easy answers to problems built up over many years. just the painstaking work of putting right what went so badly wrong. and together with the british people we are, slowly but surely, fixing our country's economic problems. we've now cut the deficit not by a quarter, but by a third. we've helped business create not a million new jobs, but one and a quarter million new jobs. we've kept interest rates at record lows. but mr. deputy speaker, despite the progress we've made, there's much more to do. today, i'm going to level with people about the difficult economic circumstances we still face and the hard decisions required to deal with them. it is taking longer than anyone
times the size of its economy without having some kind of bail structure in a solution, it becomes very difficult. and i think that understanding is quite clear among investors. so from a longer term perspective, i think there's a positive element here which is a more substantial bailin in this solution. >> valentin, what kind of exposure do you have in europe at this point and what changes have you made in regard to how the cypriot levy is handled? >> it is creating a bit of uncertainty. clearly, it comes from lingering uncertainty over the political situation in italy. so all in all, it makes the bit more cautious on europe. not so much on our overall willingness to take risks. we're still overweight global real estate, but we have still put down our exposure in europe, so we are now under weight european equities. we are cautious on peripheral bull markets and european fixed income space. so that is the main changes. still on the regional allocation that we have, but not so much altering our overall willingness to look for risk. i think in general, the broadening of the global cycle
than three hours from the federal reserve notes and whether or not it continues stimulating the economy at the current levels, keeps propping things up. why don't you just pick up from where we left off because talking about washington related to the bigger picture scenario not assist early today but the role the federal reserve plays in all of this as long as interest rates stay as low as they are, what do you think? >> the fed plays a big role keeping interest rates low. i heard on the fiscal side, you're right, maybe outside of the beltway the washington fatigue, but returned to the fed, everyday to indicate the fed keeps the pedal to the metal, 85 billion per month, there'll be some talk about scaling it back later this year. the thing to watch is the fed forecast. all the members put in the economic forecast for the next three years. my guess is it'll be a little bit more promising for social and employment rate above 6.5% until 2015 and that is the threshold, they will not move interest rates up before your employment rate gets to that level, that is still at least two years from
their economy. based on ant was institutions,ree the commission, the ec be, and the imf. the commission has been working hard for many months to facilitate a sustainable i recallto help cyprus i raised the issue of financial results -- assistance program novemberirst time in 2011 with the finance minister of cyprus because of concerns about the sustainability and financial stability. been a particularly complex process in the most challenging of circumstances. already last week, we found ourselves in a situation where there were no optimal solutions ,vailable, only hard choices and that has been even more true in recent days. lagarde said the deal would restore trust in cyprus and banking system. >> it has been a laborious and could result. i would also like to salute the courage of the separate authorities -- the cypriot authorities who are taking on the challenge of putting into place and implementing in the days to, something that will number one protect the injured depositors, number two, treat the two -- the two troubled banks, and limit the treatment to those two banks, and therefore, rest
stuart: the highlight reel. all about cyprus. cyprus, they'll out approved. >> the economy is likely to get worse. >> continuation of stealing what has already been stolen. they will not be happy. >> they are devastated. that is not what cyprus is or ever was. >> europe does not have the mechanisms in place that the united states has to manage a currency or a banking system. >> watch the euro. that affects all of us. stuart: italian banks have been halted in trading. charles: yes. stuart: why? charles: they are worried. these stocks are plummeting. stuart: the dutch finance minister said the cyprus situation is a good template for other european countries. they have reached into private bank accounts, taken the money out and used it to finance the bailout. that is what everybody wanted to avoid and now the dow is down 43 points. >> that italian banks are frozen because now the fear is they will have their money taken out. stuart: the dutch minister is now staying this could prompt a euro zone bank restructuring. that is why the dow is now down 46 points. you have a 80-point
live" starts right now. >> megyn: fox news alert how one country's economy is saved from the brink of collapse in an unprecedented move that experts say comes at a major cost for anyone who uses a bank. think your money is safe? welcome to "america live" everyone, i'm megyn kelly. a tiny little island nation of cyprus has decided today that it will fix its financial crisis by taking people's money. and that's the ultimate solution. they will seize 30-- no, make that 40% being of every bank account in which the person has over 100,000 euros, about 120 or 30,000. and that's your thanks for having money in the cypriot banks and now there are questions about the global cost of the rescue and people find new limits to the trust we put in banks. greg palkot live in cyprus outside the parliament there. greg? >> reporter: yeah, that's right, that's right, megyn. the folks here in cyprus are breathing a sigh of relief, their country is not going bankrupt, but the price paid could be high for the people here and around the world. and with the european union to cough up its share of the money
't it? the economy is starting to improve. we're still seeing -- you know, you're talking two years out. i think the market's going to be at 17,000 in two years. i'm talking the opposite direction. i'm not a super, super bull. but in two years, i definitely think we're going to see, you know, lower unemployment. >> 3,300 down here. 17,000 up. >> that's a huge -- >> who's right? huh? >> i am. >> there you -- thank you, peter. >> thank you. >> see you later. heading toward the close. a day very much dictated by events overseas. the bailout of the cyprus banks seem to be a catalyst to the upside this morning. until the dutch finance minister had his say. but we are finishing well off the lows of the session. the dow was down 117 at the low of the day. and we're down about 50 right now. stay tuned. super bear harry dent is joining us on the second hour of "the closing bell." >>> welcome to "the closing bell," i'm sue herera in for maria bartiromo. bill will join me in a moment. not a great finish to the first trading day of the week. it started out so promising on news of a bailout agreemen
the week. the bureau could recover a little bit, despite economic disappointing data. the german economy seems to lose momentum. the ifo index dropped for the first time in a month. emma we stay in frankfurt for a closer look at the numbers. the dax fell just slightly, but bigger losses over the course of the week, finishing at 7911. that is how it went in the week in the euro stoxx 50. let's call it finishing flat. across the atlantic on wall street, the dow slightly higher, 14,496. the euro trading higher at a value of $1.2979. u.s. president barack obama has been in jordan this friday on the final leg of his middle east tour. talks with jordan's king focused primarily on the civil war in neighboring syria. >> obama said he was worried syria could become a haven for muslim extremists -- when, not if president assad is ousted. he urged the international community to work together to make sure there is a credible opposition ready to step into the breach. >> the final leg of barack obama's tour of the middle east will be dominated by one issue. with the conflict in syria on going, jordan
economies. its involvement in asia will be a welcomed addition. the u.s. must work with india to reduce her domestic constraints to growth and inagrees foreign direct investment. reducing red tape, increasing the supply of electricity, improving the tax system, strengthening the ability to enforce contracts will all lift india's ranking and spur business growth in a way that has been missing thus far. largelyia's economy is based on global supply chains, it is absolutely critical for india to enact reforms and liberalize its economy, to tap into this regional market. this is how india anchors itself in the asia-pacific region and we should do what we can to help leverage those reforms inside india. that is why i believe the administration must redouble its efforts to secure a u.s.india bilateral investment treaty. current negotiations are proceeding far too slowly. there are important issues to resolve and it's going to take a concerted effort to make progress, but once the b.i.t. is firmly in place, the u.s. should work with india on a free trade agreement that will foster more trade. we s
of the total economy were over 20%. in this republican fantasy land budgets are balanced with revenues at 19% of the economy, yet meeting the needs of 78 million more seniors and a infrastructure deficit that is growing as america is falling apart. clearly this is not remotely possible if we are going to enjoy anything like our current quality of life. there is a real world intersection of budget saving opportunities with potential areas of agreement. health care reform is one. but not just by shifting the burden to seniors and disabled as the republicans propose in their fantasy budget. my home state of oregon is the middle of an exciting demonstration of how to squeeze out the waste we all know is there and realign incentives. instead of the empty ritual of pretending to repeal obamacare, let's work together to accelerate reform for all americans. if the oregon experiment works, and frankly many of these efeshencies by the way are already achieved in other parts of the country and with some private health systems, we could save more than $1.2 trillion that is the flawed sequester is suppos
, there will have to be budget cuts behind the sequester. the sequester will not be the end of it, but the economy is recovering. i wouldn't say in spite of what the govern am hment has done. the economy is recovering of its own natural forces now. we've had 12 years of subpar growth. we've had 12 years of up and down with little net progress in the markets and people have forgotten what a strong economy and what a bull market -- a secular bull market looks like, and i think that's generally where we're headed for the next four years, so i'm predicting, as you said, 25,000 on the dow which implies a 15% compound rate of return for the next four years. >> john, can i just come back on the important points that you're making about europe. i'm not sure it's a question of what america trades with whom. it's a question of where the companies that are quoted on this market make their profits and in technology, for example, 40% of those profits are made in europe and therefore europe arguably is more significant than you might think on the trade argument having said that. this is a very interesting week
the deficit and grow our economy. yield back. the speaker pro tempore: the chair lays before the house the following personal requests. the clerk: leave of absence requested for mr. thompson of california for today. the speaker pro tempore: without objection, the request s granted. under the speaker's announced policy of january 3, 2013, the gentleman from california, mr. bera, is recognized as 60 minutes as the designee of the minority leader. mr. bera: mr. speaker, thank you for that recognition. thank you for this time. mr. speaker, over the past several weeks, i've been talking to my constituents, i've been talking to former patients about the importance medicare and how medicare has impacted their lives, how they've relied on it. you know, as a doctor, i've taken care of thousands of patients, patients who've worked their whole life paying into a system so that they could rest easy at a time when they needed their health care. hey -- they needed their health care they wouldn't have to worry about it. this is a program that has served millions of americans for decades. they've come
are actually focused on jobs and economy, erin. they're not focused on the debt. i think you have that captive sort of republican grass root that is focused on the debt and trimming back federal government. and they've captured the sort of republican party. but the vast majority of americans are more focused on the economy and creating jobs and building stable middle class than they are on cutting the deficit. yeah, the deficit is an issue. it's not the number one issue. >> why, boehner do that? we don't have an immediate debt crisis. you would see that in the market, right? so boehner is say ing the truth. it is against what he's been saying which is the debt is a problem. why did he do that? >> he said we need to address it over the long term. that means taking steps now. but here's the thing, he is actually opening the possibility that republicans move to more favorable ground because right now the problem is that republicans are emphasizing have been emphasizing root canal economics, only fiscal austerity rather than a more positive agenda. by conceding the point that we don't have an imme
, obviously the global economy would be in jeopardy and that obviously includes u.s. markets. naturally europe is one of our biggest trading partners. but for now investors don't seem to be too stressed. it is a very tiny country. it doesn't have the same impact like say france or germany. plus, we have seen a huge rally in the stock market since the start of the year. major averages up 7% to 10%. you know, it would take a lot to change that. michael. >> be half up on the day already. >> right. and of course big frustration, people can't get to their money from the banks. but then, jim, maybe you have some encouragement. any sign perhaps banks will reopen as early as tuesday perhaps? >> that can only happen if there's an agreement here to save the banks. the restructure, shutdown, whatever you want to call it. and reorganize these banks and europe says, okay, we'll allow the european central bank, think of that like the federal reserve, putting money into these banks just to keep them alive for a few more weeks. the federal reserve of the european central bank says we will shut that money off
of his victims. we'll tell you ahead on "360." ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. barrow island has got rare kangaroos. ♪ chevron has been developing energy here for decades. we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back. spring is just hours away in this half of the hemisphere but winter didn't get the memo. this is how new england is welcominging spring. more snow and a lot of it. a late winter storm forced school closures. the upper midwest hit with another blast of winter. south isn't off the hook either. allison kosik has the latest. >> reporter: the calendar says spring but mother nature is playing by her own rules, dumping about a foot of snow in parts of new hampshire on the last day of winter. >> it's kind of fun because then you can shovel and work out. >> reporter: in concord it
democracy. it will soon be one of the world's largest economies. its involvement in asia will be a welcomed addition. the u.s. must work with india to reduce her domestic constraints to growth and increase foreign direct investment, reducing red tape, increasing the supply of electricity, improving the tax system, strengthening the ability to enforce contracts will all live in the is ranking and spur business growth in a way that has been missing thus far. since asia's economy is largely based on global supply chains, it is absolutely critical for india to enact reforms, to liberalize its economy, to tap into this regional market. this is out in the anchors itself in the asia-pacific region, and we should do what we can to help leverage those reforms inside india. that is why i believe the administration must redouble its efforts to secure a u.s.-india bilateral investment treaty. current negotiations are proceeding far too slowly. there are important issues to resolve. it's going to take a concerted effort to make progress, but once the vat is firmly in place, the u.s. should work with ind
and other nations, think it is too soon to suggest that. it is the banking system the size of this economy, you talk about the fact that large percentage of the deposit are outside attempting to trick the nation and the bank in the unique way. i sure hope they backpedal on insurance deposits, that would provide a little bit of stability and i hope they suggest this is not something we're looking to do broadly across the euro zone nations. melissa: do you think they will do that, or do you think the opposite, that other people follow suit? this is really unprecedented. they're basically skimming people's bank accounts. >> i agree with both of you, which is always a good thing to do. the fact is they will try to reassure people this is a one off thing. they have rung the spell. now people know especially larger depositors know if they're in italy or spain they could be hit by this. the one thing we have not mentioned is russia. love those large deposits are from russians. including those who had taken the money. the fact they're taking a haircut is not anything people want to cry tears over,
the letter, fearing high-tech investors who helped build the venture capital economy will flee to lower tax states. >> the game is rigged. you can't possibly win because we have the right to change the rules after the fact. that is what is not fair. >> governor jerry brown is reviewing the situation. now these taxpayers can request a waiver if you will, david, hoping that the governor, lawmakers hammer out a deal. if no not, no reprieve, taxman comes, 120 million going to the state from about 3,000 people who thought they were helping small business. david? david: it can happen here. it is happening here in california! william la jeunesse. thanks, man. >>> disney world turning some kids away at the park gates. that story when we go "off the desk" in a just a couple minutes. ♪ your finances can't manage themselves, but that doesn't mean they won't try. bring all your finances togeth with the help of the one person who can, a certified financial planner professional. cfp -- let's make a plan. ♪ [ male announcer ] help brazil reduce its overall reliance on foreign imports th the launch of
in our economy. a lot of people like me. look, i'm not going to do it anymore. you are going to come in for half or whatever, it's not worth my time. >> how is that good for our economy. >> bill: it's not. it's horrible for our country. >> i don't get how the liberal intelligence i can't isn't jumping off this guy's bandwagon they hang on like 14-year-olds with justin bieber. it's over. time to get off. >> bill: they're not going to do that it's just like ideology, you said it at the beginning of this interview. you are not coming at it from an ideological point of view. it's common sense. they don't want common sense. >> i feel like i'm being cat fished. i feel like obama's man tie at mid-atlantic at-man tie at a owe's new girlfriend. looks like something they smuggle drugs out of costa rica. the only reason is he there because is he has bigger boobs than putin does. sending him there and rodman to north korea. make honey boo boo the ambassador to tehran and complete. fitness. this guy is coming over to fitness. he has been in a moo moo for 15 years. why don't you have him over ther
, and it was a race about the economy and it was not a race about social issues and it's not a race about the various flaws that gingrich has. right now the republican party is fast moving away from what santorum said. we don't need to tell ourselves that we're great if we stay more conservative. the republican party as an institution is trying desperately to expand itself beyond that and while conservatives are saying what santorum is saying if only we had been more pure in 2012. >> how can he go to the senate at the same time you want to go right. there's a struggle, but if -- >> my hunch is they're going to go right because they'll see it coming and they'll say we're not going to be there and let's have some fun. great reporting and great scoop. michael sheer, thank you, as well. >> up next, michele bachmann has a knack for stretching the truth and she does and he's back at it this week. our bachmann pants on fire fact check. this is "hardball," the place for politics. while keeping out threats to your operations? it's not working! yes it is. welcome to tyco integrated security. with world-class m
on too long and have all do like men to my room for manage my economy? not just africa but south asia, latin america, i was in bangladesh i saw the devastating impact of the flooding of a cyclone it had put hundreds of miles of fields that the crops would not grow. i saw what adaptation means you have to have new ways to grow water involved or very dry conditions. this is expensive and difficult. of course, if you undermine people with their livelihood of food security it is a huge gender dimension. it is women primarily to have to put food on the table. that is a pattern that is so impact fall it goes on for years but we have not heard as much about it but they did not know it was caused by the carbon emissions from elsewhere so webern not talking about it but they talk about it when we went there but this was the worst human rights problem but then i read the science and realized that only of big human-rights problem but there was a foundation in ireland of climate justice that stars with injustice those that are these responsible. it is beginning to affect there is said disconnect
estimated 42 miles per gallon, the best highway fuel economy of any gas engine in america. that's american ingenuity. to find new roads. [ male announcer ] time won't stop you from feeling beautiful. introducing nexxus youth renewal. now, visibly combat 8 signs of aging hair. ♪ ♪ our breakthrough nexxus youth renewal elixir replenishes and revitalizes. for vibrant, youthful-looking hair in 7 days. [ woman ] now, timeless beauty lives on. [ male announcer ] combat 8 signs of aging hair. nexxus youth renewal. raise your standard. so, dennis, how long have you been in america? a year and a half. no kidding. you speak english really well. so do you. except for your tendency to end sentences with prepositions. what are you talking about? that. he's not wrong. all right... and this is my office. is this part of the tour? nope. good-bye. come on, sheldon, we've hardly shown him anything. all right. this is my desk. these are my books; this is my door. please close it behind you. good-bye. looks like you're doing work in quantum loop corrections. keen observation. good-
up lima by going after cartels who control the transport system and regulating the economy of street vendors. they've been deeply unpopular among the war and have become fodder in a campaign to drive her out. >> the process underway is tainted with aggression, lies, distortion, misinformation, manipulation, and even worse, insult at my condition as a woman. it's injuring our citizens and causing negative visions. >> the recall vote is believed to be spearheaded by a former mayor looking for a comeback. he denies those allegations but controls the capital with significant influence as politicians jockey for power ahead of the elections. al jazeera. >> in southwestern colombia, soldiers conducted a raid in the jungle and seized nearly four tons of cocaine. they say they were hided and the confiscated cocaine had a street value of nearly 90 million dollars. 150,000 people have attended the first sunday prayers delivered by the new pope. before that, in an apparent break of precision and protocol, he met the faithful at ground level walking through the streets in st. annesa's church and
the recession that follows on as they try and make the economy back on track. this was done because some european countries believed to be the fins and germans and other northern european countries wanted to make sure they were not seen as bailing out rich russian who have accounts in cyprus. or indeed they now felt that people had to pay their part of the pain. but it was not done in ireland. it was not done in portugal. it was not done in greece. and with the prospect of possibility of spain and italy, you can see -- i cannot find, michael and suzanne, i cannot find one economist or banker that i've spoken to today that says this was a good idea. everybody agrees it was a pretty awful policy. >> let's bring in alison. i want you to weigh-in on the conversation here. we're looking at the u.s. markets. looks like it's down by eight points or so. what is the impact do you think in the united states? >> it's actually come back a long way, hasn't it? >> michael, it really has. you saw the knee-jerk reaction right when the bell opened the dow dropped as much as 110 points. obviously it's com
to take for cyprus' economy to recover from this? >> very good question. that's what a lot of people were really worried about whether or not what's happening there could happen in other places. >> we saw in europe seizain was saying hang on this might have longer term implications and reigned back a bit. zain, thanks so much. zain asher there. >>> secretary of state john kerry dropping in to meet with president hamid karzai. announcement coming at a time of tension as you can imagine between president karzai and coalition forces and u.s. forces in afghanistan. >> those tensions escalated this month after a bomb blast in kabul that killed nine people, kerry and president karzai just wrapping up a news conference actually. we'll update you on any developments from that. >>> also in afghanistan today another sign that u.s. involvement there is now winding down. the united states handed over full control of a prison near bagram air base to afghan authority. >> the transfer announced a year ago was supposed to take place within six months, but tensions with president karzai and concerns about
cable subscribers and others, based on what you see, is the u.s. economy growing at a faster clip than last year? what they did you get? >> the big shock for us, of be were oblivious to those kinds of questions in which many countries and housing stopped 2008 than subscriber losses were bigger. they said while. we never really appreciated for new homes in america the way we fight to over the same pie. greasy a little bit of hope but also post but the recipients between the cable business locally and nbc universal and cable channels nationally and locally. so now the advertising business is very relevant. and to greasy everyone feeling a the same thing. >> but with the, a sense of nervousness, we kid go down but like they said in tough times, take your risk. in good times it is easier for people to spend money. it was a tough decision to buy new and six in the middle of a recession but. >> now you are in control dealing with hollywood types what is more complicated? regulators in washington? [laughter] >> mass you can answer the question. [laughter] there is day but to be with the talen
horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. i took something for my sinuses, but i still have this cough. [ male announcer ] a lot of sinus products don't treat cough. they don't? [ male announcer ] nope, but alka seltzer plus severe sinus does it treats your worst sinus symptoms, plus that annoying cough. [ breathes deeply ] ♪ oh, what a relief it is [ angry gibberish ] >>> welcome back. on this program we try not to take political sides. we are not a republican or democratic newscast. we believe in facts. you can find that stuff on other networks. when you're elected representatives, republicans, democrats or independents is speak they should to the best of their ability speak the truth. if not they should be held accountable. not for political views or governing philosophy but for making stuff up. tonight we are featuring michele bachmann. tonight she raced away from our dana bash who was trying to ask her questions about remarks michele bachmann made at the conservative political action conference over the
in this country, look at our economy, whether or not it's growing or whether or not it's shrinking ab how much we export to other parts of the world, a new report shows that china will overtake the united states as the world's number one economy by 2016. >> jesse: really? is that true? >> well, it's a report from the organization for economic cooperation and development. their forecast differs from other people's forecast which says basically because of china's demographics, they have a lot of people. >> jesse: a billion people, a lot of people to tax. >> alisyn: that's right. so the other prediction said it would be by the year 2020. this puts it four years earlier, by the time the president is leaving office. >> jesse: you could have on obama's watch, president obama, us being downgraded for the first time and lose the title of the number one economy in the world. that's staggering. >> clayton: to be fair to the president, this certainly didn't start under president obama, it started many years ago in china, but also, look, it's easier in china to have this kind of growth when you're doing it o
, created growth in the economy, and that's what had the effect of balancing the budget, because we got so much more in tax revenues from those people that were working and paying taxes and from those businesses that are going great gangbusters and paying more taxes into the coffers. and we had more growth. so that's, you know, the republicans have these things exactly backwards. and rand paul has them even more backwards than paul ryan does. but, you know, there's no, you know, it's like talking to a brick wall. there's nothing that can be done and there's no negotiation that can be made with such people. >> i wonder, heather, how much of a liability this is going to be in 2014. you now have mitch mcconnell and john cornyn and ted cruz on record supporting turning the social -- basically tearing the social safety net asunder. and the question is, are they going to be held accountable for those positions? >> here's the question, you have the base of the republican party completely still supporting a balanced approach to the budget mess. actually raising taxes on millionaires and billionair
definitely. >> reporter: which means this beautiful i the fate of the european and perhaps world economie nick schifrin, abc news, cyprus. >>> all right, statue of liberty which was shut down after hurricane sandy set to reopen in time for fourth of july. the statue itself survived the , bulad sits badly d. making it uoritor repairs should be compl summer trav >>> after a relentless final few weeks of winter, we are pleased to report that spring arrives. at 7:02 eastern time. just a few hours from now. as abc's ginger zee reports it's welcome news for the northeast after another major winter storm. >> reporter: it is like a broken en plows down. shovels out and that familiar sound. spring is just hours away yet nowhere in sight. >> so much for the groundhog, huh? i think he got that one wrong. >> it's ridiculous. we are tired of it. >> reporter: so is judy. >> i still have snow banks like this. it is not going away. we are all miserable. >> reporter: she had to close her bakery for the first time ever. thanks to the snow >> tims no bad. this year it is constant. >> i'm sick of
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